Scorpio Tankers (NYSE:STNG) Price Target Cut to $49.00 by Analysts at Stifel Nicolaus

Scorpio Tankers (NYSE:STNG) had its price objective trimmed by Stifel Nicolaus from $51.00 to $49.00 in a report published on Friday morning,Benzinga reports. The firm currently has a hold rating on the shipping company’s stock.

STNG has been the topic of several other research reports. Evercore ISI lowered their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday. Finally, Bank of America lowered their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Performance

STNG opened at $44.13 on Friday. The firm has a market cap of $2.23 billion, a P/E ratio of 3.16 and a beta of 0.08. Scorpio Tankers has a 1-year low of $43.32 and a 1-year high of $84.67. The company has a 50 day simple moving average of $49.33 and a two-hundred day simple moving average of $59.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Equities analysts forecast that Scorpio Tankers will post 9.88 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new stake in Scorpio Tankers during the third quarter valued at $28,000. GAMMA Investing LLC raised its stake in Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Lindbrook Capital LLC raised its stake in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd raised its stake in Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 770 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.